Fluent(US:FLNT)2025-11-13 21:30Revenue Performance - Q3 2025 revenue was $47.0 million, a decrease of 27% compared to $64.5 million in Q3 2024[8] - Owned and Operated revenue decreased 52% to $20.7 million compared to $43.5 million in Q3 2024, as the company shifted focus to Commerce Media Solutions[8] - Revenue for the three months ended September 30, 2025, was $47,029 thousand, a decrease of 27% compared to $64,516 thousand for the same period in 2024[19] Profitability and Loss - The net loss for Q3 2025 was $7.6 million, or $0.27 per share, compared to a net loss of $7.9 million, or $0.48 per share, for Q3 2024[8] - Adjusted net loss for Q3 2025 was $6,544,000, compared to $3,686,000 in Q3 2024, with a nine-month adjusted net loss of $19,049,000 versus $15,226,000 in the prior year[33] - Net loss for the nine months ended September 30, 2025, was $23,048 thousand, compared to a net loss of $25,847 thousand for the same period in 2024, representing a 10.8% improvement[21] Adjusted EBITDA - Adjusted EBITDA loss was $3.4 million, representing 7% of revenue, an improvement compared to the previous year[8] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(9,224) thousand, worsening from $(3,910) thousand in 2024[31] - The company expects adjusted EBITDA profitability in Q4 2025 and full-year double-digit revenue growth in 2026[5] Gross Profit and Margins - Commerce Media Solutions reported gross profit of $4.1 million, an increase of 27% over Q3 2024, representing 22% of revenue for Q3 2025[8] - Media margin for the three months ended September 30, 2025, was $12,797 thousand, accounting for 27% of revenue, compared to 28% in the same period of 2024[26] - Gross profit (exclusive of depreciation and amortization) for the nine months ended September 30, 2025, was $32,589 thousand, down 30% from $46,898 thousand in 2024[26] Cost Management - Total costs and expenses for the three months ended September 30, 2025, were $53,332 thousand, down from $68,404 thousand in 2024[19] - Cash used in operating activities for the nine months ended September 30, 2025, was $(4,257) thousand, an improvement from $(11,963) thousand in 2024[21] Shareholder Metrics - The weighted average number of shares outstanding for the three months ended September 30, 2025, was 28,097,016, compared to 16,452,273 in 2024[19] - The company reported a basic and diluted loss per share of $(0.94) for the nine months ended September 30, 2025, compared to $(1.75) in 2024[19] Strategic Initiatives - The company entered new partnerships with Authentic Brands and Databricks, enhancing data intelligence capabilities[4] - The company aims to leverage AI capabilities and proprietary first-party data to improve monetization and return Commerce Media Solutions gross margin to the high twenties[11] Key Metrics and Definitions - Adjusted EBITDA is a primary metric for evaluating operating performance, with adjustments made for non-recurring and unusual items to provide a clearer view of business operations[35] - Annual Revenue Run Rate is calculated based on active media partner contracts, reflecting the company's current monetization levels and operational performance[38] - The company emphasizes media margin as a key metric for evaluating operational performance, indicating its importance in assessing the efficiency of digital marketing services[34]